Explain the roles of demand and supply in changing gasoline prices after hurricane katrina and rita

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13-10-2017
Business

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Explain the roles of demand and supply in changing gasoline prices after hurricane katrina and rita

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Kalahira Kalahira · Answer 1 · 2017-10-23T18:47:38+02:00

Kalahira Kalahira

23-10-2017

In the immediate aftermath of hurricane Katrina and Rita, supply of gasoline was very low, as suppliers of gasoline,were unable to bring gas to the stations. This raised prices drastically as demand increased due to people fleeing the devastation.

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